PM announces six high impact programmes to expand SMEs further
PUTRAJAYA: Prime Minister Datuk Seri Najib Tun Razak announced six high impact programmes Wednesday to expand the small and medium enterprises (SME) industry under Phase Two of the SME Masterplan.
These include a simplified business registration and licensing procedure through a single registration point, where the current National Business Registration System (MyCOID) will be interfaced with the National Business Licensing System (BLESS).
The programmes are part of the SME Masterplan (2012-2020), which Prime Minister Datuk Seri Najib Tun Razak said is expected to spur the growth of the sector by 8.7% yearly, compared to 6.5% currently.
Also included in the plan are 32 key initiatives endorsed by the National SME Development Council (NSDC).
“The SME sector plays an important role in our country's economic development as 99% of our businesses consist of SME, which contribute 32% to the GDP (gross domestic product).
“Although we have success in promoting the sector, the SME here is still not at par with those in developed countries in terms of productivity.
“We want the SME labour productivity to increase from RM47,000 in 2010 to RM91,000 by 2020,” said Najib, who chaired the NSDC meeting consisting of head of ministries and agencies relevant to the SME here.
The other five high-impact programmes outlined by Najib were to form a technology commercialisation platform (a national network managed by the private sector to promote ideas for commercialisation); a SME Investment programme to provide potential SME with early stage financing; a Going Export Programme offering customised support and assistance to new exporters and SME; a Catalyst Programme to assist selected homegrown talents in the areas of finance, market access and human capital development; and a specific programme to empower the bottom 40% of the income group by providing innovation support to microenterprises in rural areas.
According to Najib, the master plan is expected to increase the GDP contribution of SME from 32% (2010) to 41% by year 2020 and see an increase in export share from 19% to 35% in the same period.
He added that the Government would review the scope of authority of SME Corporation Malaysia to give it greater empowerment in matters relating to the sector.
“For this master plan to succeed, the challenge is to streamline the initiatives that will be undertaken by the 56 relevant ministries and agencies involved with SME,” said Najib, adding that SME Corporation would be the main agency in-charge of the plan.
Source : The Star
Date : 23 November 2011
Afternoon Highlight (23/11/11/194/503)
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